Dow Jones Futures Rise: Nvidia Leads New Buys; Tesla Runs Past Resistance On Elon Musk Move

Dow Jones futures showed a slight rise on Monday morning, along with S&P 500 futures and Nasdaq futures, following a strong week for the Nasdaq and top stocks. Apple (AAPL), Amazon.com (AMZN), Novo Nordisk (NVO), Eli Lilly (LLY), Super Micro Computer (SMCI), and Advanced Micro Devices (AMD) are all set to report this week. Additionally, the upcoming Federal Reserve meeting and monthly jobs report are on the agenda. Despite an alarming inflation report, the stock market rebounded strongly last week, driven by impressive earnings from large-cap companies. The Nasdaq and leading stocks performed exceptionally well, with tech giants showing robust growth and committing to significant AI investments. AI chipmakers such as Nvidia (NVDA), Broadcom (AVGO), and Astera Labs (ALAB) signaled buy opportunities, along with AppLovin (APP), KLA (KLAC), Cava Group (CAVA), and Embraer (ERJ). Several other stocks also showed buy signals ahead of their earnings reports this week, including Hubbell (HUBB), Wingstop (WING), Texas Roadhouse (TXRH), and Generac (GNRC). Investors should take note of the changing market dynamics, although major indexes are currently below their 50-day moving averages. The heavy earnings calendar could have a significant impact on the market and various sectors, with Super Micro and AMD being crucial for AI hardware plays. Despite being a laggard, Apple remains a major tech player with a vast iPhone ecosystem. Any hints regarding AI could influence a wide range of stocks. The Fed meeting and key economic data could potentially disrupt the recent market rally. Tesla stock saw an early jump on Monday, likely to surpass resistance at its 10-week moving average. CEO Elon Musk’s visit to China reportedly secured tentative approval for introducing Full Self-Driving in the country. Nvidia, Novo Nordisk, Generac, KLA, and Cava stock are all featured on IBD Leaderboard, with Eli Lilly stock on the Leaderboard watchlist. Nvidia stock is also on SwingTrader, while KLA stock is on IBD Long-Term Leaders. Wingstop, Hubbell, and Texas Roadhouse are part of the IBD 50, and Broadcom, Hubbell, and Super Micro stock are included in the IBD Big Cap 20. Cava was highlighted as Friday’s IBD Stock Of The Day. Dow Jones Futures Today showed a 0.1% increase compared to fair value, with S&P 500 futures up 0.2% and Nasdaq 100 futures climbing 0.3%, supported by TSLA stock. The 10-year Treasury yield fell to 4.62%, while crude oil futures experienced a slight decline. It’s important to remember that overnight movements in Dow futures and other indices may not necessarily reflect actual trading in the upcoming stock market session. IB…



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